Open Text Q2 profit jumps 28 percent

Reuters News
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Posted: Feb 01, 2012 4:38 PM
Open Text Q2 profit jumps 28 percent

(Reuters) - Business software company Open Text posted a 28 percent jump in second-quarter profit on Wednesday on solid demand from services, technology and financial customers.

Waterloo, Ontario-based Open Text reported a net profit of $47.4 million, or 81 cents a share, on revenue of $321.5 million in the three months to December 31.

That was up from a year-earlier profit of $37.1 million, or 64 cents a share, on revenue of $267.5 million.

Excluding certain one-time items, the company said it made $1.39 a share.

Analysts had, on average, expected Open Text to earn $1.22 a share on revenue of $311.9 million, according to Thomson Reuters I/B/E/S.

The company, whose software helps manage compliance and other information for large companies, government agencies and professional service firms, made $89.7 million from licensing, a measure of future demand. A year ago it made $79.2 million.

(Reporting by Alastair Sharp; editing by Rob Wilson)